Trades based on Market Geometry and Price Action

gbpusd for now. i normally trade eurusd and aususd. but stopped aususd as the fluctuation is way too huge for me.

how much is your stop loss (how many pips? ) and what time frame do you trade ?

thats another 3 hours to go. i guess i could catch a movie !

no it only left 1hr 48 min

it is really down to what the chart shows. but i at most, i trade within 80 pips for both. normally would be about 20-50 pips eurusd is easier as it has a very clear trend while aususd fluctuates too much and im taking a pass for now. earned 25 pips for longing eurusd, got tp, and it went back down, forming a doji and now, it went back up.. o.O

ah thats weird. my H4 chart will only close it candle in another 2 hours 45 mins.

yes if you only trade smaller time frames, it is better to trade during London session. because the volume is strong. and market moves in a clear direction . but if you want to hold the Asian session with smaller tf, you will be wiped out..very often. and that's the difficult part of the game...

yea i usually trade about london session as i will be tied up during asian session. or perhaps still catching my sleep during my session. i made a mistake. my next H4 candle will be closing in another 45 mins instead. saw the wrong chart.

and it seems like gbpusd went the wrong way.

ok no pbm.. i just took a loss on gbp/usd. i guess this is due to the rising volatility we see right now. but i will re enter later

if u do notice, it touched the bottom trendline. perhaps it is showing a rebounce?

You can thank Moodys for that drop - senior analyst said that UK could lose AAA rating.

Hey Dailyking,

What are your current views on the USD/CAD? 0.9780/90 seems like a solid resistance area?

Cheers,
Brandon

it will rebound. it is fighting a trend line now...i think it's because of the news release. i don't care about news...all is in technical

sl at 1.6400 and i re entered @ 1.636 waiting to see something and also to cover back some loss hahas.

yes the 5 am candle will give a good clue...don't worry about losses. it's part of the game just focus on trading well. you will see. much money to make here with strong mind and good discipline...

yea. i have immunity to loss. it wont affect me much. since im here to learn and my capital are all ready to be lost. basically it is only 1k sgd lols. lets wait for the time ! btw, 5am est is how long from now? 1 hour 30 mins?

That was right on the chin, luckily I was break even on GU.....

yes 1hr 30 min...apply risk management and only invest 1% of your account per transaction...., not more than 3% loss per day

hmmm im using leveraging 1:50 actually. and thus i trade in 10 lots per transaction which uses only 25% of my account. my stocks account and others are in another account. this account is specifically for forex trading only and therefore the funds in it is really low.